Asian Shares Advance, Nvidia Tepid After Earnings: Markets Wrap
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(Bloomberg) — Asian shares extended their gains to a fourth straight day as turmoil driven by concerns over the impact of artificial intelligence eased, with optimism tempered by a muted response to Nvidia Corp.’s upbeat sales forecast. The yen appreciated against the dollar.
Stocks Climb Late as Nvidia Rekindles AI Wagers: Markets Wrap
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(Bloomberg) — Stocks climbed in late hours on speculation that Nvidia Corp.’s strong outlook will help reignite confidence in the artificial-intelligence trade that has powered the bull market.
Swiss to Pay 50,000 Francs to Crans-Montana Fire Victims
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(Bloomberg) — Switzerland will pay victims of the deadly bar fire in the Crans-Montana ski resort a “solidarity contribution” of 50,000 francs ($64,500) after the government concluded that the current support system for the affected is insufficient.
Private Credit Fears Deepen With UBS Warning of 15% Defaults
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(Bloomberg) — A few weeks ago, analysts at UBS Group AG laid out a worst-case scenario for defaults in the private credit sector. Their outlook just became more grim.
Nestlé Cuts Bonuses for Laggards With Boost for Top Performers
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(Bloomberg) — Nestlé SA has revamped its bonus plan with the payout cap lifted for top performers and underachievers likely to receive significantly reduced payments or none at all this fiscal year.
Tech Stocks Power Gains After AI-Fueled Selloff: Markets Wrap
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(Bloomberg) — A rally in technology firms spurred a rebound in stocks after a rout driven by fears about the disruptive impacts of artificial intelligence, with sentiment also buoyed by an improvement in consumer confidence.
Goldman Sachs Set to Move Into Credit Suisse’s Milan Office
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(Bloomberg) — Goldman Sachs Group Inc. is set to move into the landmark Milan office that was Credit Suisse Group AG’s headquarters in Italy, underscoring the US bank’s growing footprint in the country.
Swiss Bond Market Eyes Blowout Sales Boosted by Alphabet’s Debut
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(Bloomberg) — Corporate bond sales in Swiss francs could top 25 billion this year, far beyond the market’s normal volumes if the haven currency’s low interest rates spur more international borrowers to follow Google parent Alphabet Inc. in to the market.
Souring Bond Deals Threaten to Undermine a Nordic Credit Boom
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(Bloomberg) — A succession of Nordic bond deals that sank after issuance is leading long term investors to fret about the reputation of this rapidly burgeoning market.
Marsh Mulls Sale of PCS, Financial Risk Manager for Super Rich Asians
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(Bloomberg) — Marsh is exploring a sale of its financial risk manager and life insurance broker for high-net-worth individuals in Asia, according to people familiar with the matter.
Stocks Hit by AI-Disruption Fears as IBM Tumbles: Markets Wrap
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(Bloomberg) — Stocks fell and bonds rose as renewed anxiety over the impact of artificial intelligence on company profits joined lingering tariff uncertainty in squelching risk appetites. Bitcoin dropped below $65,000. Gold rallied.
Gold-Like Swiss Franc May Surge 17%, Morgan Stanley’s Adams Says
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(Bloomberg) — The Swiss franc could surge as much as 17% to the dollar amid growing confidence in the currency’s haven status in the face of US policy uncertainty, according to Morgan Stanley strategists.
Lutnick’s Davos Speech Was ‘Just Too Much,’ Lagarde Tells WSJ
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(Bloomberg) — European Central Bank President Christine Lagarde said she walked out of a speech by US Commerce Secretary Howard Lutnick at the World Economic Forum because she found his anti-European rhetoric inappropriate given the setting.
Stocks Rise Anew, Bonds Fall on Trump Tariff Talk: Markets Wrap
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(Bloomberg) — Stocks advanced while bonds and the dollar slipped as traders deemed the rejection of Donald Trump’s tariff program to be a potential stress on government finances that is unlikely to change the economy’s course.
Hedge Fund Fermat Calls Surge in Cat-Bond Sales Breathtaking
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(Bloomberg) — The co-founder of Fermat Capital Management says the market for catastrophe bonds is drawing in new issuers at a rate that’s unlike anything he’s seen before.
Partners Group Seeks to Reassure on AI, Private Credit Exposure
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(Bloomberg) — Partners Group Holding AG sought to send a calming message about its investments after the stocks of other alternative asset managers suffered in recent weeks over their exposures to private credit and to industries potentially affected by artificial intelligence.
Trump Says Tariffs Pushed Novartis to Expand Operations in US
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(Bloomberg) — President Donald Trump said his tariffs spurred Novartis AG to expand its US manufacturing footprint, following a meeting with the Swiss drugmaker’s chief executive Vas Narasimhan at the White House on Wednesday.
Novartis to Exit Indian Unit With $159 Million Stake Sale
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(Bloomberg) — Novartis AG has agreed to sell a majority stake in its listed Indian unit, marking the culmination of a strategic review announced two years ago.
Stocks Decline as US-Iran Risks Spur Rally in Oil: Markets Wrap
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(Bloomberg) — Heightened geopolitical worries sent stocks lower while extending a surge in oil and keeping a lid on bonds amid perceived inflation risks. Gold hovered near $5,000, while selling shook alternative asset managers after a private credit fund halted redemptions.
Iran’s Diplomatic Window Is Closing, UN Atomic Watchdog Says
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(Bloomberg) — The US military build-up in the Middle East means Iran’s window to reach a diplomatic agreement over its atomic activities is at risk of closing, according to the head of the United Nations nuclear watchdog.
